Exterior products recognized for style and performance
SAILAUF, Germany, Oct. 18, 2016 /PRNewswire/ - Magna International Inc. has received top honors from the Society of Plastics Engineers (SPE) Central Europe at the Automotive Awards Ceremony on Oct. 17 in Dusseldorf, Germany, to recognize the industry's most innovative use of plastics. A skid plate for a premium European automaker won the Grand Award as the top part across all categories, in addition to placing first in the exteriors category. Magna completed a near sweep of the exteriors category with its active grille shutter and Cadillac ATS-V and CTS-V carbon fiber hood placing second and fourth respectively. The Ford Mustang Shelby Cobra GT350 grille opening reinforcement placed fourth in the powertrain category.
"Tonight's multiple recognition awards show the industry how innovation is embedded in our culture and in the products we deliver," said Magna Exteriors President Grahame Burrow. "We are very excited that SPE has recognized our ingenuity, passion and professionalism in working alongside customers to deliver innovative technologies. These awards reinforce our strength in the exteriors market."
All four products recognized at the event were developed with lightweighting and fuel efficiency in mind as manufacturers look for every possible way to make improvements in these areas. The skid plate, developed in conjunction with material supplier A. Schulman, Inc., is an injection molded, plastic part with a silver metallic look that also helps reduce vehicle weight. The active grille shutter is located on the outer, visible surface of the vehicle's grille and has louvers that electronically open and close to deflect air, which reduces drag and lowers emissions. The Cadillac ATS-V and CTS-V carbon fiber hood weighs roughly 27 percent less than an aluminum version and is the first of its kind in mass production. The Ford Mustang Shelby GT350 carbon fiber grille opening reinforcement weighs 24 percent less than traditional steel reinforcements and provides superior fit and performance.
This recognition comes on the heels of another prominent industry award. The SPE Detroit Chapter awarded Magna an Innovation Award in the exteriors category at its Automotive TPO Conference on Oct. 4 for its work on front and rear fascias for the 2017 Chevrolet Camaro ZL1. The key to the win was the use of laser cutting and welding of the fascias instead of punch and ultrasonic welding, providing greater flexibility for lower-volume parts.
We are a leading global automotive supplier with 309 manufacturing operations and 99 product development, engineering and sales centres in 29 countries. We have over 152,000 employees focused on delivering superior value to our customers through innovative products and processes, and World Class Manufacturing. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure and roof systems. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit our website at www.magna.com.
# # #
THIS RELEASE MAY CONTAIN STATEMENTS WHICH CONSTITUTE "FORWARD-LOOKING STATEMENTS" UNDER APPLICABLE SECURITIES LEGISLATION AND ARE SUBJECT TO, AND EXPRESSLY QUALIFIED BY, THE CAUTIONARY DISCLAIMERS THAT ARE SET OUT IN MAGNA'S REGULATORY FILINGS. PLEASE REFER TO MAGNA'S MOST CURRENT MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL POSITION, ANNUAL INFORMATION FORM AND ANNUAL REPORT ON FORM 40-F, AS REPLACED OR UPDATED BY ANY OF MAGNA'S SUBSEQUENT REGULATORY FILINGS, WHICH SET OUT THE CAUTIONARY DISCLAIMERS, INCLUDING THE RISK FACTORS THAT COULD CAUSE ACTUAL EVENTS TO DIFFER MATERIALLY FROM THOSE INDICATED BY SUCH FORWARD-LOOKING STATEMENTS. THESE DOCUMENTS ARE AVAILABLE FOR REVIEW ON MAGNA'S WEBSITE AT WWW.MAGNA.COM.
SOURCE Magna International Inc.